NeuroPhage Pharmaceuticals nabs $17 mln Series D funds

Share via email

Separate multiple email addresses with commasSend me a copy

Email preview

To:

From:

Subject: Look at this story on PE HUB

NeuroPhage Pharmaceuticals nabs $17 mln Series D funds

NeuroPhage Pharmaceuticals has raised $17 million in Series D financing from unnamed investors. Based in Cambridge, Mass., NeuroPhage Pharmaceuticals is a biotech company developing breakthrough therapies for neurodegenerative diseases.

NeuroPhage Pharmaceuticals has raised $17 million in Series D financing from unnamed investors. Based in Cambridge, Mass., NeuroPhage Pharmaceuticals is a biotech company developing breakthrough therapies for neurodegenerative diseases.

PRESS RELEASE

CAMBRIDGE, Mass., March 25, 2014 /PRNewswire/ — NeuroPhage Pharmaceuticals, Inc. today announced the completion of a $17 million Series D financing from existing and new investors to advance the Company’s lead candidate, NPT088, and potential next-generation compounds toward clinical trials. NPT088 has the potential to treat a wide range of neurodegenerative diseases, such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease and other rare diseases. The structure of this novel therapeutic candidate is based on NeuroPhage’s GAIM (General Amyloid Interaction Motif) technology platform. GAIM uniquely recognizes both early and aggregated forms of multiple misfolded proteins, which allows simultaneous targeting of multiple types of disease-related protein deposits.
“This substantial financing will enable NeuroPhage to progress a robust IND-enabling package for NPT088 and prepare for the clinical evaluation of a completely new approach to treat devastating neurological diseases,” commented Jonathan Solomon, President and Chief Executive Officer or NeuroPhage. “We are grateful for the continued support from our investors and look forward to advancing the GAIM platform which has the promise to address multiple disease-driving misfolded proteins simultaneously.”
GAIM is a unique and proprietary approach to treat neurodegenerative diseases characterized by misfolded proteins, including Alzheimer’s and Parkinson’s diseases. Neurodegenerative disease drug development has proven to be extremely challenging, because pathologic misfolded protein aggregates, like plaques, tangles and other inclusions, accumulate in the brain long before symptoms are exhibited. While scientific evidence is accumulating that neurodegenerative diseases are frequently characterized by multiple types of misfolded proteins, all other current therapies in development target only one type of misfolded protein. GAIM targets multiple types of misfolded protein deposits, including amyloid beta plaques, tau tangles and Lewy bodies (alpha synuclein inclusions). GAIM also moves beyond traditional attempts to treat these diseases by not only preventing new deposits but also reducing pre-existing toxic aggregates. [Importantly, GAIM also reduces levels of early toxic oligomers in both extracellular and intracellular compartments, without binding to monomers, which could be detrimental. This is all accomplished with an excellent animal safety profile.
“NeuroPhage’s recent progress in the understanding of the GAIM mechanism opens up various indications spanning the common diseases Alzheimer’s and Parkinson’s disease, and also rare ailments such as Huntington’s disease and Transthyretin amyloidosis. This represents a breakthrough approach that holds great promise for patients,” said Franz Hefti, Chairman of NeuroPhage’s Scientific Advisory Board.
About NeuroPhage
NeuroPhage Pharmaceuticals has fusion-protein drug candidates in development for neurodegenerative diseases, many of which cause progressive mental deterioration and dementia. NeuroPhage’s technology is based on a General Amyloid Interaction Motif (GAIM) technology that simultaneously targets multiple misfolded proteins or amyloids central to many neurodegenerative diseases. In addition to targeting multiple pathological misfolded proteins, this unique disease-modifying approach recognizes both early amyloid assemblies as well as pre-existing protein aggregates to maximize potential therapeutic effect. NeuroPhage is initially developing candidates to treat Alzheimer’s and Parkinson’s disease, in which a number of different misfolded proteins accumulate, acting together to further exacerbate disease progression. www.neurophage.com

Share via email

Separate multiple email addresses with commasSend me a copy

Email preview

To:

From:

Subject: Look at this story on PE HUB

NeuroPhage Pharmaceuticals nabs $17 mln Series D funds

NeuroPhage Pharmaceuticals has raised $17 million in Series D financing from unnamed investors. Based in Cambridge, Mass., NeuroPhage Pharmaceuticals is a biotech company developing breakthrough therapies for neurodegenerative diseases.

You are now subscribed to the PEHub Wire and Top Stories of the Week newsletters.

Buyouts Insider/Argosy Group LLC produces several free newsletters that are sent directly to the email you provide at registration (namely, PE Hub Wire, PE Hub Canada Wire, PE Hub Wire Top Story of the Week, Buyouts Daily, and VCJ Alert). To enable us to keep providing these services free of charge, we reserve the right to contact you with special invitations to sample or purchase private equity-related products.

By submitting this free subscription request for any of these products, you are also consenting to this communication. Should you ever wish to unsubscribe from a particular communication you may activate the unsubscribe mechanism at the bottom of the email. This will discontinue both the special invitations mentioned previously, as well as your subscription to the weekly newsletter. The information you provide will be safeguarded by Argosy Group LLC/Buyouts Insider. The company’s subsidiaries may use it to keep you informed of relevant products and services. We occasionally allow reputable companies outside of the company to mail details of products which may be of interest to you. As an international group, we may transfer your data on a global basis for the purposes indicated above.

WE WILL NEVER SHARE YOUR EMAIL OR CONTACT DETAILS WITH ANY OUTSIDE COMPANY HOWEVER.

Should you have any questions please do not hesitate to contact us: [email protected].